Merck: takes 9.9% stake in KalVista.
(CercleFinance.com) - Merck has acquired a 9.
9% stake in pharmaceuticals firm KalVista's capital, in a private placement transaction valued at 9.1 million dollars.
The drugmaker has entered into a private placement transaction under which it acquired 1,070,589 shares of KalVista at a price of 8.50 dollars each, compared to a closing price of 7.4 dollars last night.
KalVista has granted Merck certain rights, including an option to acquire KVD001, which targets the body's inflammatory response, through a period following completion of a Phase 2 trial, which KalVista intends to begin later this year.
KalVista also has granted a similar option to Merck to acquire investigational orally delivered molecules for DME that KalVista will continue to develop.
As consideration for the agreement, Merck will pay to KalVista a 37 million dollar non-refundable upfront fee.
In all, KalVista could receive payments of up to 715 million dollars.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
9% stake in pharmaceuticals firm KalVista's capital, in a private placement transaction valued at 9.1 million dollars.
The drugmaker has entered into a private placement transaction under which it acquired 1,070,589 shares of KalVista at a price of 8.50 dollars each, compared to a closing price of 7.4 dollars last night.
KalVista has granted Merck certain rights, including an option to acquire KVD001, which targets the body's inflammatory response, through a period following completion of a Phase 2 trial, which KalVista intends to begin later this year.
KalVista also has granted a similar option to Merck to acquire investigational orally delivered molecules for DME that KalVista will continue to develop.
As consideration for the agreement, Merck will pay to KalVista a 37 million dollar non-refundable upfront fee.
In all, KalVista could receive payments of up to 715 million dollars.
Copyright (c) 2017 CercleFinance.com. All rights reserved.